"The Role of Mathematics in the Sciences and in Society" (1954) an address to Princeton alumni, published in John von Neumann : Collected Works (1963) edited by A. H. Taub <!-- Macmillan, New York -->; also quoted in Out of the Mouths of Mathematicians : A Quotation Book for Philomaths (1993) by R. Schmalz
Context: A large part of mathematics which becomes useful developed with absolutely no desire to be useful, and in a situation where nobody could possibly know in what area it would become useful; and there were no general indications that it ever would be so. By and large it is uniformly true in mathematics that there is a time lapse between a mathematical discovery and the moment when it is useful; and that this lapse of time can be anything from 30 to 100 years, in some cases even more; and that the whole system seems to function without any direction, without any reference to usefulness, and without any desire to do things which are useful.